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how would i find the net income Presented below are selected ledger accounts of Tucker Corporation as of December 31, 2014. Cash $52,800 Administrative expenses
how would i find the net income
Presented below are selected ledger accounts of Tucker Corporation as of December 31, 2014.
Cash | $52,800 |
Administrative expenses | 102,500 |
Selling expenses | 82,300 |
Net sales | 542,400 |
Cost of goods sold | 267,400 |
Cash dividends declared (2014) | 20,100 |
Cash dividends paid (2014) | 18,500 |
Discontinued operations (loss before income taxes) | 41,500 |
Depreciation expense, not recorded in 2013 | 39,300 |
Retained earnings, December 31, 2013 | 96,700 |
Effective tax rate30% |
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